RIO DE JANEIRO, July 15, 2013 /PRNewswire/ -- Oi S.A. ("Oi" or the "Company"), in compliance with art. 157, paragraph 4, of Law No. 6,404/76 and in accordance with CVM Instruction No. 358/02, hereby notifies its shareholders and the market in general that, on July 12, 2013, together with its subsidiary BRT Serviços de Internet S.A., it entered into a contract with BTG Pactual YS Empreendimentos e Participacoes S.A. (the "Purchaser"), a company controlled by BTG Pactual Infraestrutura II Fundo de Investimento em Participacoes, by which it agreed to transfer all of its equity interest in Brasil Telecom Cabos Submarinos Ltda. and its subsidiaries, located in Venezuela, Colombia, Bermuda and the United States (jointly known as "GlobeNet"), for an aggregate amount, on July 12, 2013, of R$ 1,745,590,000.00, subject to certain adjustments stipulated in the contract (the "Transaction").
The Transaction involves the transfer of a 22,500 km system of fiber optic submarine cables held by GlobeNet, composed of two rings of protected submarine cables, linking connection points between the United States, Bermuda, Colombia, Venezuelaand Brazil, as well as supply of capacity by GlobeNet to Oi and its direct and indirect subsidiaries (the "Oi Companies") through a fixed-price long-term contract with volume guarantees.
The Transaction is subject to the implementation of certain conditions stipulated in the contract, including the necessary approvals from regulatory bodies and antitrust authorities in the various jurisdictions in which GlobeNet operates, within the terms of the applicable legislation.
Oi will keep its shareholders and the market informed of the conclusion of the Transaction, as well as any other events that may impact its terms and conditions.
Rio de Janeiro, July 15, 2013.
Bayard de Paoli Gontijo
Investor Relations Officer
Corporate Taxpayers' Registry (CNPJ/MF) No. 76.535.764/0001-43
Board of Trade (NIRE) No. 33.3.0029520-8
SOURCE Oi S.A.